Week of 4-26-2009

Timing Model = -1.0
30% long, 70% cash

Global allocation of long positions
MSCI EAFE Index 20%
MCCI Emerging Markets Index 30%
Russell 3000 Index - U.S. 50%

Top U.S. Sectors
U.S. Oil Equipment, Services & Distribution 3.5
U.S. Biotechnology 3.5
Composite Internet 2.5
U.S. Health Care 2.5
U.S. Consumer Services 2.0
Precious Metals 1.5
U.S. Pharmaceuticals 1.5
U.S. Oil & Gas 1.5

Top Intl. ETFs
MSCI Brazil Index Fund 2
FTSE China (HK Listed) Index Fund 2
FTSE/Xinhua China 25 Index Fund 2
MSCI Emerging Markets Index Fund 2
MSCI South Korea Index Fund 2
MSCI All Country Asia ex Japan Index Fund 2
MSCI Taiwan Index Fund 2
MSCI South Africa Index Fund 2
MSCI Sweden Index Fund 2

Strategy 3
Money Market 33%
U.S. Long Bonds 33%
Precious Metals 33%

Strategy 4
U.S. Long Bonds 25%
Agriculture 25%
Precious Metals 25%
U.S. Small Caps 25%

Not much has changed from last week. The intermediate term bullish trend in prices is counterbalanced with too much optimism - on a short to medium term basis. The Value Line Composite has finally peaked above it's 200 day moving average, but that positive wasn't enough to outweigh negative sentiment.

This feels like an intermediate top in the making, but you never know.